Beyond Meat “Beyond Burger” patties made from herbal substitutes for meat products lie on a shelf for sale on November 15, 2019 in New York.Angela Weiss | AFP | Getty Images
Beyond Meat announced Tuesday that Alibaba’s Freshippo grocery stores will start selling its meatless hamburger patties, marking its entry into supermarkets in mainland China.The meat substitute maker first entered mainland China in April through a partnership with Starbucks. Kum, Taco Bell and Pizza Hut from Yum China also sell Beyond Meat products in several Chinese cities.
Beyond Burgers will be available in 50 Freshippo stores in Shanghai from Saturday. By September, the patties will also be available in 48 other locations in Beijing and Hangzhou.
“We know that retail will be an essential part of our success in China, and we are delighted to mark this first step a few months after entering the market,” said CEO Ethan Brown in a statement.
Beyond’s shares closed Tuesday up 1.9% to $ 133.98. The stock, which has a market value of $ 8.34 billion, has increased 77% so far in 2020.